Why the Crypto Industry in Indonesia Is Set to Leapfrog Competing Markets
With over 270 million people, Indonesia is the fourth-most populous country in the world and its economy is one of the largest markets in Asia. It also has a large unbanked population, a receptive regulatory environment and additional factors making it stand out for crypto adoption. In the latest episode of the News Podcast we talk to a local expert that explains all about the Indonesian crypto community. David is the CEO of the Indonesia-based research platform, Republik Rupiah. He recently joined the Bitcoin.com News Podcast to talk about the local crypto market: ....
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The Indonesian cryptocurrency industry and market experienced notable growth in 2021. In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia with 17 million users.According to data from Triple A, Indonesia has the seventh-largest crypto user base, below Brazil and Pakistan. It is estimated that there are 7.2....
Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations Without Prohibiting Crypto Transactions The Indonesian government will not follow in the footsteps of China, which has confirmed a ban on all cryptocurrency transactions, the country’s Minister of Trade Muhammad....
Southeast Asia's emerging economy Indonesia is seeing a boost in the use of Bitcoin, E27 reports. The tech resource platform collected comments from some of the world's most renowned Bitcoin entrepreneurs to demonstrate the claim further. The first statement to come out was from Tiyo Triyanto, the founder of one of the Indonesia's leading Bitcoin exchange Bitdoku. He claimed that the Bitcoin's usage has been increasing impressively from year to year, despite the fact that the digital currency is an illegal tender in Indonesia. "Daily bitcoin circulation numbers in Indonesia have only....
Binance has formed a joint venture with a consortium led by Telkom Indonesia’s $830-million venture capital arm. Binance aims “to expand the blockchain ecosystem in Indonesia with the development of a new Indonesian-based digital asset exchange.” Binance Building Cryptocurrency Exchange in Indonesia Blockchain and cryptocurrency infrastructure provider Binance announced Wednesday that it has established a joint venture with a consortium led by Telkom Indonesia’s $830-million venture capital arm, MDI Ventures (MDI). Telkom Indonesia is the country’s....
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country.
Indonesia Plans to Tighten Crypto Regulation
Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said Tuesday at a parliamentary hearing in Jakarta.
One of the new rules requires two-thirds of directors....